UMB Financial (NASDAQ:UMBF) Sets New 12-Month High After Analyst Upgrade

UMB Financial Corporation (NASDAQ:UMBF) shares hit a new 52-week high during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $130.00 to $139.00. Wells Fargo & Company currently has an equal weight rating on the stock. UMB Financial traded as high as $146.83 and last traded at $146.2440, with a volume of 471642 shares changing hands. The stock had previously closed at $144.41.

Several other equities research analysts have also commented on UMBF. Piper Sandler lifted their price target on shares of UMB Financial from $155.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Barclays raised their price objective on UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley boosted their target price on UMB Financial from $143.00 to $159.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Royal Bank Of Canada upped their target price on UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Truist Financial set a $140.00 price target on UMB Financial in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.91.

Insider Buying and Selling at UMB Financial

In other news, Director Kevin Charles Gallagher sold 381 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the sale, the director directly owned 12,223 shares in the company, valued at $1,624,192.24. This represents a 3.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President James D. Rine sold 8,246 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the transaction, the president owned 61,446 shares in the company, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.33% of the stock is owned by insiders.

Hedge Funds Weigh In On UMB Financial

A number of hedge funds have recently bought and sold shares of the company. MBM Wealth Consultants LLC acquired a new stake in UMB Financial during the first quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new position in UMB Financial during the fourth quarter worth $27,000. Axiom Investment Management LLC bought a new stake in UMB Financial during the first quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of UMB Financial during the fourth quarter worth $34,000. Finally, Torren Management LLC bought a new position in shares of UMB Financial in the 4th quarter worth about $37,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company’s fifty day moving average price is $132.64 and its 200 day moving average price is $124.50. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.97 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, beating the consensus estimate of $2.82 by $0.59. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The company had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. During the same period in the prior year, the company earned $2.58 earnings per share. The business’s revenue was up 31.1% compared to the same quarter last year. Equities research analysts expect that UMB Financial Corporation will post 12.83 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, June 10th. UMB Financial’s dividend payout ratio (DPR) is currently 15.26%.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.